Greenpeace slams proposed trading scheme

The Government's proposed emissions trading scheme is being savaged by Greenpeace.

The environmental lobby group argues it will do little to reduce New Zealand's greenhouse gas emissions and will impede development of less carbon intensive production technologies.

Greenpeace also slams the timing of permit allocations and the fact the agricultural sector will not be required to participate until 2013. The report argues all sectors must be included if the trading scheme is to work effectively.

Co-author Dr Hugh Saddler says the scheme is fatally flawed. He says by being given up to 90 per cent of permits, businesses are not being landed with the true environmental costs of their consumption decisions. Dr Saddler says the trading scheme will likely deliver only incidental reductions in greenhouse gases.

Greenpeace also slams the timing of permit allocations and the fact the agricultural sector will not be required to participate until 2013.

- NEWSTALK ZB